With low exchange costs. Okx Reverse Position … With an account at, you can quickly purchase crypto using a card, savings account, or mobile wallet. When taking part in staking or conserving functions, it also offers exceptionally high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional workplaces around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance issues.
You can produce an account that gives you access to trade 343 spot currencies if you’re in a location that works with OKX.
likewise supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. could work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your main location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to list them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different pricing tiers that vary based upon trade volume and account holdings. For spot trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency might qualify for discounts. Swaps, options, and futures have their own rate schedules with varying fees.
One big drawback of is that it does not divulge charges for withdrawals and deposits. While much of is transparent, surprise cost information are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check deal information prior to proceeding. If you mistakenly send funds to the incorrect wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security issues you don’t normally face with conventional banking platforms. However, the best practices for keeping your monetary accounts protected are similar. These consist of utilizing strong passwords unique to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for many client possessions. It likewise has deals additional features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody outside of the United States. If you have actually ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
wanted to purchase apecoin at this level put our stop loss down at this level significance that if we’re wrong and it continues moving down we’re offering our position which we wish to take earnings at this level what we wish to do is find the difference between these worths and that’s going to provide us.057 then we’re going to take the dollar amount threat we want to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Reverse Position
distinction between the stop and the entry okay which’s going to offer us the quantity of tokens that we need to buy in order to run the risk of only ten dollars alright if we’re just going in with 250 coins or a thousand coins we’re never going to have the ability to dial in our threat reward and you’re going to definitely screw yourself so make certain that you’re not doing that you need to have that set dollar amount alright so that indicates that in order to find the capital requirement or the quantity of money that we require for this trade we have to take the quantity of coins and increase it by the entry price which is this level here fine so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to offer us 587 dollars then we require to be able to enter into this position when we’re utilizing leverage the only thing it’s changing is just how much cash we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that means now I have 10 thousand dollars to use fine since if we just had a hundred dollar account alright this 587 is currently 5x the size of our money value of our account that makes it impossible alright so let’s visit buy bit here let’s say we want to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what happens when we open our leverage all right and you’re gon na get this warning that the liquidation is high okay as long as you’re measuring you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the best thing all right so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account okay so this take advantage of ability is changing nothing about the risk profile on the trade fine if you intend on trading anyways utilize the recommendation Link in the description all right weekly we do a giveaway where anybody trading with 50k volume or greater is
going to be automatically gone into to win a hundred dollars each week we’re choosing 3 winners a week all right we’re trying to provide the charges that we’re collecting from the affiliate program back into the neighborhood for you people trading with us connect is below you can have a look at our Discord where we announce the winners alright prior to we hop into the trading system that you can utilize to begin taking these trades I want to go over the rules that I would advise using when growing a little account alright so the very first rule is start with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account use that 10 dollar danger all right each time you double the account so when you go to 100 approximately 200 alright you want to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and utilize that there until we scale our account up a little bit bigger the third thing and this is extremely essential is everybody has a mental limit when it pertains to just how much cash they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose three trades in a row I don’t care who you are or what the math states you’re going to begin feeling a little bit emotional about the trades and that’s something that you actually want to avoid up until you come comfy doing that okay so say you work your method approximately 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you all right you can stroll that back down to fifty dollars per trade pick that fixed amount when you wish to protect your capital and just select an objective each day on
the money that you want to make when you get up to a comfortable limit where it’s fitting your earnings goals so for me personally you understand I like to make three that three to 5 thousand dollars per week so I’m utilizing you know about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you know a couple years from now move up to a thousand shot to make 3 to 5 thousand per trade and attempt to double my income okay so let’s enter the bread and butter of the real trading this is a system that I’ve been trading the markets with for the past couple months that have actually absolutely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was really in Dubai all right but what I wish to do is find a location where I have a recently established uptrend first thing that I wish to do is recognize my wave count all right so if this is our beginning
first pullback is 2 largest waves approximately three pullback is 4 and after that the high is 5 and the way we can search for the top of 5 is by using a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click on this link click back here and after that find my aspect of one and you can see the price action sort of Consolidated right along this level if we take a Fibonacci retracement off of this level and go up to the high of one if our cost action boils down through